fine, then you essentially want a true 1:1 gold backed currency. how do you know if a bank issuing notes actually has all the gold as a reserve? how will you ensure that people will actually care? we've had all that before. history repeating. another problem is that today's gold supply is largely controlled by the elites already.

fine, then you essentially want a true 1:1 gold backed currency. how do you know if a bank issuing notes actually has all the gold as a reserve? how will you ensure that people will actually care? we've had all that before. history repeating. another problem is that today's gold supply is largely controlled by the elites already.

fine, then you essentially want a true 1:1 gold backed currency. how do you know if a bank issuing notes actually has all the gold as a reserve? how will you ensure that people will actually care? we've had all that before. history repeating. another problem is that today's gold supply is largely controlled by the elites already.

Good points. I agree totally. But that doesn't equal socialism.

It does because the government enforces the gold standard and gives itself a monopoly over what is money which allows them to grow more easily and faster which eventually leads to socialism.

fine, then you essentially want a true 1:1 gold backed currency. how do you know if a bank issuing notes actually has all the gold as a reserve? how will you ensure that people will actually care? we've had all that before. history repeating. another problem is that today's gold supply is largely controlled by the elites already.

Good points. I agree totally. But that doesn't equal socialism.

It does because the government enforces the gold standard and gives itself a monopoly over what is money which allows them to grow more easily and faster which eventually leads to socialism.

You have a misunderstanding of what exactly a gold standard is. A gold standard is the opposite of the government saying what money is, because people already view gold as money. If a gold standard is enforced then the government is restrained from growing by inflating the money supply.

fine, then you essentially want a true 1:1 gold backed currency. how do you know if a bank issuing notes actually has all the gold as a reserve? how will you ensure that people will actually care? we've had all that before. history repeating. another problem is that today's gold supply is largely controlled by the elites already.

Good points. I agree totally. But that doesn't equal socialism.

It does because the government enforces the gold standard and gives itself a monopoly over what is money which allows them to grow more easily and faster which eventually leads to socialism.

You have a misunderstanding of what exactly a gold standard is. A gold standard is the opposite of the government saying what money is, because people already view gold as money. If a gold standard is enforced then the government is restrained from growing by inflating the money supply.

If a gold standard is enforced, it is exactly the government saying what money is. If no standard is enforced, it is the opposite, and other options like silver and bitcoin can be used by subgroups within the population.

fine, then you essentially want a true 1:1 gold backed currency. how do you know if a bank issuing notes actually has all the gold as a reserve? how will you ensure that people will actually care? we've had all that before. history repeating. another problem is that today's gold supply is largely controlled by the elites already.

Good points. I agree totally. But that doesn't equal socialism.

It does because the government enforces the gold standard and gives itself a monopoly over what is money which allows them to grow more easily and faster which eventually leads to socialism.

You have a misunderstanding of what exactly a gold standard is. A gold standard is the opposite of the government saying what money is, because people already view gold as money. If a gold standard is enforced then the government is restrained from growing by inflating the money supply.

If a gold standard is enforced, it is exactly the government saying what money is. If no standard is enforced, it is the opposite, and other options like silver and bitcoin can be used by subgroups within the population.

We have a missed communication on the word "enforced". I meant the government would honor and not change any convertibility into gold, not force people to use the currency.

fine, then you essentially want a true 1:1 gold backed currency. how do you know if a bank issuing notes actually has all the gold as a reserve? how will you ensure that people will actually care? we've had all that before. history repeating. another problem is that today's gold supply is largely controlled by the elites already.

Good points. I agree totally. But that doesn't equal socialism.

It does because the government enforces the gold standard and gives itself a monopoly over what is money which allows them to grow more easily and faster which eventually leads to socialism.

You have a misunderstanding of what exactly a gold standard is. A gold standard is the opposite of the government saying what money is, because people already view gold as money. If a gold standard is enforced then the government is restrained from growing by inflating the money supply.

A gold standard is precisely a government telling the people what money is. What we want is a market standard where the market decides what money is. Then and only then the government is powerless to abuse it's assumed privilege of controlling money and it's worth.